Press Release

October 30, 2020 Agencies release paper on operational resilience Board of Governors of the Federal Reserve System Federal Deposit Insurance Corporation Office of the Comptroller of the Currency For release at 4:45 p.m. EDT Share Federal bank regulatory agencies today released a paper outlining sound practices designed to help large banks increase operational resilience. Examples of risks to operational resilience include cyberattacks, natural disasters, and pandemics. The "Sound Practices to Strengthen Operational Resilience" paper outlines practices to increase operational resilience that are drawn from existing regulations, guidance, statements, and common industry standards. The practices are grounded in effective governance and risk management techniques, consider third-party risks, and include resilient information systems. The paper does not revise the agencies' existing rules or guidance. The practices are for domestic banks with more than $250 billion in total consolidated assets or banks with more than $100 billion in total assets and other risk characteristics. Sound Practices to Strengthen Operational Resilience (PDF) Sound Practices to Strengthen Operational Resilience Explanatory Note (PDF) Media Contacts: Related Content Please see SR Letter 20-24 for the current version of Sound Practices to Strengthen Operational Resilience

Federal Reserve (2020, October 29). Press Release. Press Releases, Federal Reserve. https://whenthefedspeaks.com/doc/press_release_20201030_agencies_release_paper_on_operational_resilience

@misc{wtfs_press_release_20201030_agencies_release_paper_on_operational_resilience,
  author = {Federal Reserve},
  title = {Press Release},
  year = {2020},
  month = {Oct},
  howpublished = {Press Releases, Federal Reserve},
  url = {https://whenthefedspeaks.com/doc/press_release_20201030_agencies_release_paper_on_operational_resilience},
  note = {Retrieved via When the Fed Speaks corpus}
}